Facedrive Focuses on Further Global Expansion Plans

TORONTO–(BUSINESS WIRE)–#FDGiveback—Facedrive Inc. (“Facedrive”) (TSXV: FD), the first Canadian peer-to-peer, eco-friendly and socially responsible ride-sharing network, is pleased to announced global expansion plans, launching with new target cities in Canada and extending into the United States and Europe beginning in Q3 and Q4 of 2020.

Facedrive is working closely with cities, municipalities and universities across Canada to identify transportation gaps and offer solutions to bridge those gaps at a critical time for all amid the coronavirus pandemic. Facedrive will be looking to make similar efforts in the United States and Europe as it looks to expand in those regions.

“In line with Facedrive’s ‘people-and-planet first’ principles, which focus on both eco-friendly rides and a socially responsible business model that considers the welfare of communities, riders and drivers as equal stakeholders, we are furthering our expansion plans as a direct response to critical needs given the impact of COVID-19 and given the essential services ride-sharing can provide at this time,” said Facedrive CEO Sayan Navaratnam.

In this difficult time, Facedrive is in discussions with universities, municipalities and cities to bridge transportation gaps in a safe and convenient way to provide necessary transportation in a time of crisis, and its global expansion plans will have the post-COVID-19 environment in mind.

Facedrive’s recent acquisition of HiRide Share Ltd (“HiRide”), a socially responsible ride-sharing and car-pooling app which shares Facedrive’s principles, is of strategic significance in targeting the high-demand university and education markets with its completed AI engines, fully functional app and update releases in the pipeline. It increases our global expansion power several times, adding HiRide’s 20,000+ network of longer-distance commuter customers to Facedrive’s first- and last-mile ride-sharing platform.

The expansion of both companies into new cities and globally will be in tandem, and the HiRide acquisition will help Facedrive deliver end-to-end service to its users, with Facedrive acting as the first and last mile for longer-distance commuters using the HiRide car-pooling app.

“A safe transportation solution is critical at this time, and Facedrive is currently working with many cities amid the coronavirus pandemic to bridge critical transportation gaps as we press into additional cities and countries,” said Facedrive Chief of Operations Suman Pushparajah.

“Life after COVID-19 will be different, and eco-friendly and socially responsible ride-sharing, along with other major lifestyle changes, will emerge as solidified trends. Facedrive intends to be there, globally, to demonstrate how ride-sharing can put the people and planet first around the world in an economically feasible manner,” Pushparajah added.

About Facedrive

Facedrive is a “people-and-planet first” ride-sharing platform, and the first to offer green transportation solutions in this space. Facedrive is committed to doing business fairly, equitably and sustainably, with a firm dedication not only to seamless customer service that offsets CO2 by planting trees and gives riders a choice between EVs, hybrids and conventional vehicles, but also to its drivers. Facedrive is a community platform designed to become the #1 recognized eco-friendly and socially responsible TaaS platform in any market that it enters.

Certain information in this press release contains forward-looking information. This information is based on management’s reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release. Actual results and the timing of events may differ materially from those anticipated in the forward-looking information as a result of various factors. Information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. Statements containing forward-looking information are not facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements.

See “Forward-Looking Information” and “Risk Factors” in the Corporation’s Filing Statement dated August 28, 2019 for a discussion of the uncertainties, risks and assumptions associated with these statements. Readers are urged to consider the uncertainties, risks and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law.

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